Global Micro Combined Heat And Power (micro-CHP) Market 2019-2023

The global micro combined heat and power market will grow by 17.4 GW during 2019-2023. This report offers an analysis of the market based on technology (fuel cells and engines). The micro-CHP market research report further presents an in-depth insight on the growth prospects of the market across APAC and ROW. Also, this Micro combined heat and power (micro-CHP) market report analyzes the market’s competitive landscape and offers information on several companies including 2G Energy AG, Ballard Power Systems, Honda Motor Co., Ltd., Panasonic Corporation, and Yanmar Holdings Co., Ltd.
Below are some of the key findings from this micro combined heat and power market analysis report
Micro Combined Heat and Power Market
See the complete table of contents and list of exhibits, as well as selected illustrations and example pages from this report.

Global micro combined heat and power industry overview

Micro-CHP systems are extensively preferred in private dwellings and public and commercial buildings as they can attain overall efficiencies of over 90%. Micro-CHP systems help in preventing T&D losses, which eliminates the need for the development of new T&D infrastructure. Additionally, micro-CHP systems also ease grid congestion during high electricity demand. Moreover, as most of the commercially available micro-CHP technologies are available as fuel cells, they are suitable for installation in existing buildings with high-energy requirements. These economic and environmental benefits of micro-CHP systems will have a significant impact on the global micro-CHP market growth.
Additionally, the growing need for clean energy fuel will also contribute to the growth of the micro combined heat and power market, which will register a CAGR of over 23% during the forecast period. There is an increase in the number of initiatives to reduce CO2 emissions generated from the power sector. This is resulting in increased adoption of clean energy and environment-friendly power generation technologies such as micro-CHP. To generate power and heat, micro-CHP systems can employ clean energy sources such as fuel cells, natural gas, and biogas. Advanced micro-CHP systems can help reduce energy bills by 20% to 25%. As a result, there is a rise in adoption of micro-CHP systems especially in countries such as Germany and Japan.

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